@RISK and the DecisionTools Suite in Academic Applications

Objectives
This presentation aims to demonstrate uses of @RISK and some other Palisade products in selected academic applications, as well as to promote discussion as to other areas where the products may be used in academic teaching and research.

Agenda

• Introduction and Overview
• Providing Intuitive Demonstrations of Key Statistical Topics e.g.
• Central Limit Theorem and the Normal and Lognormal distributions
• Distributions of event occurrence
• Distributions of waiting time
• Approximating a continuous distribution with a discrete one
• Conjugate distributions
• The effect of sample sizes on some statistical measures
• Extreme values of distributions
• Using @RISK to Solve Real-Life Problems e.g.
• Cost Budgeting
• Cash Flow, Financial Statement and Valuation Modelling
• Asset Pricing, Options and Real Options Modelling
• Frequency-severity modelling
• Overview of some other Palisade products for:
• Decision making under uncertainty
• Optimisation
• Statistical analysis
• Discussion

 

About the Presenter
Dr. Michael Rees is Palisade’s Global Director of Training and Consulting.  His prior experience includes 15 years’ as a strategy consultant, equity analyst and independent consultant.  He has a Doctorate in Mathematics and a B.A. with First Class Honours from Oxford University, and a MBA with Distinction from INSEAD.  He has studied quantitative finance with Paul Wilmott, graduating top of the class and also receiving the Wilmott Award in 2003.  He prides himself on his ability to explain complex concepts in simple, focused, intuitive, and non-mathematical ways.  He is the author of Financial Modelling in Practice (John Wiley & Sons, 2008).
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